Wednesday, October 7, 2009
The Manheim index of used car prices has risen over 20% this year through September. That's the biggest increase on record. The cash for clunkers program hasn't had much to do with this, since the rising price trend has been firmly in place for many months. I note reports in the news today that BMW is now beginning to increase output at its factories in response to strong demand, after cutting production sharply earlier this year. Sounds like a V-shaped recovery to me, and while some sectors are experiencing tough price competition, that's not the case for everyone, as this chart makes clear.
Posted by Scott Grannis at 11:12 AM